LONDON – A&O is advising healthcare technology company Sensyne Health Plc (Sensyne Health) on its initial public offering (IPO) to raise primary proceeds of GBP60m and admission to trading on AIM, the market operated by the London Stock Exchange, with a market capitalisation of GBP225 million. The IPO priced on 13 August 2018 and admission will take place on 17 August 2018.
International law firm Ashurst is advising Peel Hunt in relation to Welsh, Carson, Anderson & Stowe's ('WCAS') £34 million recommended offer for Abzena plc.
Abzena provides specialist services and proprietary technologies to enable the selection, development and manufacturing of better biopharmaceuticals across its principal sites in Cambridge (UK), San Diego, California (USA) and Bristol, Pennsylvania (USA).
International law firm Ashurst has advised new client CareTech Holdings Plc ("CareTech") on its recommended cash offer for Cambian Group Plc ("Cambian") by way of a scheme of arrangement of Cambian under Part 26 of the Companies Act 2006 (the "Transaction"). The offer values Cambian at approximately £372 million on an enterprise value basis. Following completion of the transaction the combined CareTech and Cambian group will be the second largest UK social care operator by revenue and the only one with a UK listing.
Cravath represented HDFC Bank Limited in connection with its $1.82 billion offering of American depositary shares. HDFC Bank Limited is a private sector bank in India. The shares were listed on the New York Stock Exchange. Cravath also represented HDFC Bank Limited in its concurrent Indian domestic offering of equity shares. The transaction closed on August 2, 2018.
The Cravath team included partner Philip J. Boeckman and associates Michael L. Arnold, Yannick Adler and Ingo M. Berner on securities matters, and associates Andrew L. Mandelbaum and Cecily Xi on tax matters.
International legal practice Osborne Clarke has advised Sensyne Health plc, a British healthcare technology company, in connection with its successful AIM market IPO. Peel Hunt LLP, as sole bookrunner, raised £60 million as part of the IPO process and, following admission, Sensyne Health will have a market capitalisation of approximately £225 million.
Travers Smith LLP has advised Harvey Nash Group plc ("Harvey Nash") on its proposed acquisition pursuant to a recommended cash offer by The Power of Talent Ltd, an entity owned by funds managed by DBAY Advisors Limited.
The acquisition, which is expected to be effected via a scheme of arrangement, values Harvey Nash at approximately £99 million and is subject to Harvey Nash shareholder approval and Court sanction of the scheme. It is expected to close in Q4 of 2018.
DLA Piper advised Mesa Air Group, Inc. (NASDAQ: MESA) in its US$115.6 million initial public offering. Phoenix-based Mesa is a regional air carrier providing scheduled passenger service to 110 cities in 38 states, the District of Columbia, Canada, Mexico, Cuba and the Bahamas.
Davis Polk advised the underwriters and the joint global coordinators in the public offering of BeiGene, Ltd. on the Hong Kong Stock Exchange. The gross proceeds from the offering amounted to approximately HK$7.08 billion (US$903 million) prior to the exercise of the over-allotment option.
Firm advised brokers Mirabaud Securities on crypto-mining service provider Argo Blockchain's £25 million IPO.
Fieldfisher corporate partner Anthony Brockbank advised Mirabaud Securities in their capacity as sole bookrunner and corporate broker to crypto-mining company Argo Blockchain PLC, which listed on the London Stock Exchange's Main Market on 3 August.
Skadden advised BeiGene Ltd. on its approximately $903 million initial public offering on the Hong Kong Stock Exchange.